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Families in Macroeconomics
Doepke, Matthias; Tertilt, Michèle - 2016
aggregate labor supply and savings. Next, we turn to economic growth, and describe how accounting for families is central for …
Persistent link: https://www.econbiz.de/10011479320
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Making the case for a low intertemporal elasticity of substitution
Braun, R. Anton; Nakajima, Tomoyuki - 2012
We provide two ways to reconcile small values of the intertemporal elasticity of substitution (IES) that range between 0.35 and 0.5 with empirical evidence that the IES is large. We do this reconciliation using a model in which all agents have identical preferences and the same access to asset...
Persistent link: https://www.econbiz.de/10010292314
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Growth and business cycles with imperfect credit markets
Chakrabarty, Debajyoti - 2002
We study the process of growth and business cycles in an open economy which has access to international ¯nancial … cycle dynamics. Financial market imperfections help in replicating the empirical fact that output growth shows positive …
Persistent link: https://www.econbiz.de/10010301188
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The causes of Japan's 'lost decade': The role of household consumption
Horioka, Charles Yuji - 2006
In this paper, I analyze the causes of the prolonged slowdown of the Japanese economy in the 1990s and find that the stagnation of investment, especially private fixed investment, was the primary culprit. I then investigate the causes of the stagnation of household consumption during the 1990s...
Persistent link: https://www.econbiz.de/10010332277
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An empirical evaluation of three post Keynesian models
Skott, Peter - 2010
these models for the steady growth path and the cyclical properties of the economy, and evaluate the consistency of the …
Persistent link: https://www.econbiz.de/10010287839
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Cyclical patterns of employment, utilization and profitability
Zipperer, Ben; Skott, Peter - 2010
The interaction between income distribution, accumulation, employment and the utilization of capital is central to macroeconomic models in the 'heterodox' tradition. This paper examines the stylized pattern of these variables using US data for the period after 1948. We look at the trends and...
Persistent link: https://www.econbiz.de/10010287851
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Market and political power interactions in Greece: An empirical investigation
Kollintzas, Tryphon; Papageorgiou, Dimitris; Tsionas, … - In: IZA Journal of Labor Policy 7 (2018) 1, pp. 1-43
TSL have an adverse effect on both TFP and output growth. Finally, the effect of WPR and TSL on the business cycle (shock …/output growth and the shock propagation mechanism results to provide strong evidence that Greece and to a lesser extent Spain and …
Persistent link: https://www.econbiz.de/10011986208
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Growth and volatility regime switching models for New Zealand GDP data
Buckle, Robert A; Haugh, David; Thomson, Peter - 2002
utility of these methods for modelling growth and volatility regimes present in the New Zealand data and their interaction … Maximisation (EM) algorithm. The models are fitted to New Zealand GDP and production sector growth rates to analyse changes in … their mean and volatility over time. The paper discusses applications of the methodology to identifying changes in growth …
Persistent link: https://www.econbiz.de/10012115495
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An empirical evaluation of three post-Keynesian models
Skott, Peter; Zipperer, Ben - In: Intervention. European Journal of Economics and … 09 (2012) 2, pp. 277-307
these models for the steady growth path and the cyclical properties of the economy, and evaluate the consistency of the …
Persistent link: https://www.econbiz.de/10014363154
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The role of economic policy uncertainty in predicting U.S. recessions: A mixed-frequency Markov-switching vector autoregressive approach
Balcilar, Mehmet; Gupta, Rangan; Segnon, Mawuli - In: Economics: The Open-Access, Open-Assessment E-Journal 10 (2016) 2016-27, pp. 1-20
This paper analyzes the performance of the monthly economic policy uncertainty (EPU) index in predicting recessionary regimes of the (quarterly) U.S. GDP. In this regard, the authors apply a mixed-frequency Markov-switching vector autoregressive (MF-MS-VAR) model, and compare its in-sample and...
Persistent link: https://www.econbiz.de/10011555275